Nokia Targeting Apple, Amazon & Alibaba For Maps Unit Sale

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Nokia Oyj, the Finnish company selling its money-losing maps business, is trying to drum up interest from some of the biggest names in technology including Apple, Alibaba Group and Amazon, people with knowledge of the matter said. Those companies as well as Facebook, a group of German carmakers, and private-equity firms are among the companies looking at Nokia’s maps operations, known as HERE, highlighting the ubiquity and utility of location-based services.

Nokia is seeking more than 3 billion ($3.2 billion) from the unit’s sale, said one of the people, who asked not to be identified discussing private information. Sirius XM and Harman International Industries also were approached about their interest, said the people. First-round bids for the unit are due at the end of next week, one person said. Baidu, the owner of China’s largest Internet search engine, is considering a bid for the maps business, according to a person familiar with the matter. Such a bid could be as part of a consortium, the person said. Click here to read the full post

Wahengbam Rorrkychand

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